Apple announces financial results for the first quarter of 2024, sales are strong at 17.5 trillion yen, but sales in China are down 13%

On February 1, 2024, Apple announced its financial results for the first quarter of fiscal year 2024 (October to December). Apple's sales for the same period were $119.58 billion (approximately 17.5 trillion yen), slightly higher than sales for the same period last year, but sales in China decreased by 13% compared to the same period last year. is reported.

Apple reports first quarter results - Apple
https://www.apple.com/newsroom/2024/02/apple-reports-first-quarter-results/

Apple posts Q1 2024 earnings results
https://9to5mac.com/2024/02/01/apple-earnings-q1-2024/

Apple (AAPL) earnings report Q1 2024
https://www.cnbc.com/2024/02/01/apple-aapl-earnings-report-q1-2024.html

According to Apple's financial results report for the first quarter of 2024, total sales for the period increased by 1.6% year-on-year to $119.58 billion, and net income increased by 13% year-on-year to $33.92 billion ( Approximately 4.96 trillion yen).

Apple's sales are divided into five categories, and the breakdown of each is as follows. The Other category includes sales of products and accessories such as Apple Watch, AirPods, and HomePod.

iPhone: $69.7 billion (approximately 10.2 trillion yen): 6% increase compared to the same period last year
iPad: $7.02 billion (approximately 1.3 trillion yen): 25% decrease compared to the same period last year
Mac: $7.78 billion (approximately 1.14 trillion yen): 0.5% increase compared to the same period last year
Other products: $11.95 billion (approximately 1.75 trillion yen): 11% decrease compared to the same period last year
Services: $23.12 billion (approximately 3.38 trillion yen): 11% increase compared to the same period last year

Apple CEO Tim Cook told CNBC, 'The first quarter of last year was 14 weeks; the first quarter of this year was only 13 weeks.' We emphasize that this is one week shorter than the same period last year.

iPhone sales are up 6% year-on-year, which is a positive sign for the iPhone 15 series, which was launched in September 2023.

It is reported that the iPhone 15 is selling well and the number of pre-orders has increased by about 10% to 12% compared to the iPhone 14 - GIGAZINE

Sales in the service department also remained strong, recording an 11% increase compared to the same period last year. Investors are said to be paying attention to revenue growth from subscription services such as Apple Music, warranty services such as Apple Care, search engine-related license revenue, Apple Pay and advertising-related services.

Apple claims that the number of active devices for its products has reached 2.2 billion, which analysts say is 'an indicator of how to predict the growth of Apple services.' As of the first quarter of 2023, Apple had 2 billion active devices, which means an increase of 200 million devices in one year.

CEO Cook says that the growth in sales in the service sector is due to advertising, cloud services, payment services, App Store, etc. According to CEO Cook, Apple has more than 1 billion paid subscriptions, including those through the App Store.

Apple reported that although sales were increasing in all regions except Greater China (China, Hong Kong, and Taiwan), sales were down nearly 13% year-on-year in Greater China. . In addition, Apple faces intense competition from Chinese manufacturers such as Huawei in Greater China.

Regarding the iPad, which recorded sales of 25% compared to the same period last year, Cook said, ``These numbers are not a surprise to us.If you recall, we launched the iPad Pro and the 10th generation iPad in 2022. It was no surprise that the iPad faced a very difficult situation.'

What are the new models that are rumored to be released in 2023 and 2024, which is the first ``year in which no new iPad was released'' since the first iPad? -GIGAZINE